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French Presidential elections

The combined vote share of Marine Le Pen and Jean Luc Melenchon was around 41.0% (21.4% for Le Pen and 19.6% for Melenchon). The combined vote share of Macron and Fillon was 43.7% (23.8% for Macron and 19.9% for Filon). Macron and Le Pen are through to the second round.

The Communist Melenchon also polled nearly 20% of the vote. Between Le Pen and Melenchon, 41% of those who cast their votes were voting for some sort of redistribution policies and away from the European Union.

Macron, if he wins as he is widely expected to, will find the going tough. That is why he is talking of strengthening Europe’s collective borders. It is a safe bet that, one year from now, there would be a feeling of disillusionment and malaise in France.

Much of the current euphoria surrounding an economic recovery in Europe is due to the European Central Bank’s loose monetary policy that has vastly overstayed its welcome. Financial conditions are too loose in the Eurozone. They can only get tighter.